Geography Tags

Dealers gear up to settle Sears CDS and rule on Ziggo successor
The long wait to settle the final price of Sears Roebuck Acceptance Corp credit default swaps will end today with a credit event auction, while investors could also learn whether there is successor to contracts referencing deregistered Ziggo Bond Finance

Muzinich aims to take granular portfolio tactic across Europe
Muzinich has put together what it describes as a “direct lending 2.0” strategy, which it anticipates will serve as a solution to the constraints faced by middle market lenders in Europe. The firm launched the Italian version of the strategy in November via its Italian subsidiary Springrowth SGR and is looking to create follow-ups in other European jurisdictions

1 month ago

US regulation drives insurance money towards credit ETFs
Institutional investors are increasingly allocating to credit exchange-traded funds (ETFs), but their motivations are changing. These vehicles are famed for their liquidity, but several investors are said to be pouring money into them for the long term amid regulatory changes which have made ETF investments more favourable

Derivatives market jumps forward on Ibor fallbacks
The derivatives market has moved closer to a consensus on how to replace interbank offered rates (Ibors) in contracts, with the International Swaps and Derivatives Association (Isda) finding that most market participants favour a retrospective rather than forward-looking approach for benchmark fallbacks

1 month ago

Europe/US relative value play opens up in battle of the bears
All indications point to 2019 being a tough slog for credit on both sides of the Atlantic, but a consensus is forming that US high yield has the most to worry about. That, say strategists, could present opportunities for those looking to trade one region against the other